30 June 2020
From 1 July 2020, Hungary has confirmed the withdrawal of the threshold to report invoices under their real-time invoice-reporting regime.
Currently, all businesses involved in business to business (B2B) sales transactions made in Hungary, with a VAT amount above HUF 100,000 (approx.€320), have to declare their invoices to the Hungarian tax authorities at the same time as they are issued to their business customers.
However, from July 2020, the HUF 100,000 threshold will be withdrawn meaning all B2B invoices will have to be reported on a real-time basis regardless of value.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
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